The plans include the establishment of a "financial
platform and policy environment" by 2015 to support the local chip
industry.

In addition, the government is setting up a committee to
develop the industry and is starting a fund to support industry players. And local
banks will be encouraged to invest in the market.

In a separate statement, China's Ministry of Industry and
Information Technology said China not only wants to sharpen its competitive
edge, but is also trying to reduce its reliance on foreign chip makers. This reliance
is reflected by the statistic that the country's integrated circuit imports were
worth US$231 billion in 2013.

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